MHMarkets:Britain's June CPI annual rate of 9.4% hit a new high, and gold fell below the 1700 mark after a big single hit!
Abstract：The EIA report showed that U.S. Strategic Petroleum Reserve (SPR) inventories fell by 4.998 million barrels last week to 480.1 million barrels, a drop of 1.03%, the lowest since the week of July 12, 1985. In addition, EIA crude oil inventories fell by 445,000 barrels last week, while U.S. crude product supplies rose last week to the highest since March, the largest weekly increase since December last year.
Fundamentals:
The EIA report showed that U.S. Strategic Petroleum Reserve (SPR) inventories fell by 4.998 million barrels last week to 480.1 million barrels, a drop of 1.03%, the lowest since the week of July 12, 1985. In addition, EIA crude oil inventories fell by 445,000 barrels last week, while U.S. crude product supplies rose last week to the highest since March, the largest weekly increase since December last year.
The annual rate of CPI in the United Kingdom in June was 9.4%, a new high since the data records began in 1989; the monthly rate of the retail price index in the United Kingdom in June was 0.9%, slightly higher than market expectations; the monthly rate of PPI in Germany was 0.6%, much lower than Expected; the euro zone's seasonally adjusted current account fell by 4.489 billion euros in May, compared with a decrease of 5.8 billion euros in April.
Technical side:
Dow: The three major U.S. stock indexes closed higher collectively. The Dow initially closed up 51 points, the Nasdaq closed up 1.58%, and the S&P 500 closed up 0.59%. The Dow oscillated, and the top was concerned about the position near the support pressure position of 33240.
US dollar:The US dollar index regained the 107 mark after several days of consolidation, and finally closed up 0.3% at 107.04; the 10-year US bond yield once fell below 3%, and finally closed at 3.03%. The top of the dollar fell, and the bulls were cautious, focusing on the target position of 105below.
Gold: On Wednesday, spot gold suffered a big deal after the opening of the US stock market, fell below the important 1700 mark, and the lowest point was close to 1690, and finally closed down 0.84% at $1696.74 per ounce. Gold fluctuates at a low level, cautiously chasing shorts, and pay attention to whether the monthly support 1680 position below stabilizes and rebounds.
Crude oil: In terms of crude oil, the two oils fluctuated within a narrow range. WTI crude oil finally closed down 0.55% at US$102.38/barrel; Brent crude oil closed up 0.63% at US$107.63/barrel. Crude oil fluctuated, and the top was concerned about the target position near 103.
(The above analysis only represents the analyst's point of view, the foreign exchange market is risky, and investment should be cautious)
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